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Downlands Oil and Gas Field: Surat Basin, Southeast Queensland

Location

2km North of the town of Surat, Southeast Queensland.

Basin

Surat

Area

PL 441 – 21.4 km2 ATP 471 (SG) -15.3 km2

Interest

PL 441; PPL 58 Bounty 100%

ATP 471 (Spring Grove) Bounty 24.748%

Operator

PL 441 – Bounty, ATP 471 – Origin Energy

Resource Reserve potential

1.6 MMbo

Background

Bounty acquired the 100% interest in Petroleum Lease (PL) 441, Downlands oil and gas field and associated production facilities and pipelines, which has shut in reserves and an oil leg which Bounty will move to develop. The Petroleum Lease is under renewal.

ATP 471P (SG) contains the Spring Grove oil discovery in the Tinowan Sands which could contain as much as 2 million barrels of oil in place.

Targets

The principal target in the Downlands field is the oil leg surrounding the shut in gas pool which has produced oil to surface from the Downlands 3 well.  Once the Lease is renewed Bounty aims to undertake a production test from this well to evaluate the potential of the oil pool.  The shut in gas field also has residual producible reserves which can be bought back online with a relatively small connection to a different gas pipeline.

Future Work

Progress with this operation is dependent on renewal of the Lease and negotiating additional land access issues.